For the individual, generally speaking, there are two different types of bankruptcy: Chapter 13 and Chapter 7. Each type of bankruptcy has its own advantages and disadvantages. One of the advantages of Chapter 7 over Chapter 13 is that the debtor will not be required to enter into a lengthy payment plan in which payments would be made to the court over the course of three to five years, and the debt is discharged relatively quickly. Chapter 7 could be, however, a disadvantage to those debtors who own large amounts of property.
What is wage garnishment and what are my legal defenses?
When a person sinks into debt, the stress of maintaining the lifestyle they have become accustomed to while simultaneously meeting their financial obligations can be overwhelming. Debt collectors can be relentless in making a difficult situation worse and it is easy to feel like you are in a hopeless situation.
Good news for the average homeowner as housing market improves
The foreclosure crisis that began in 2007 hit the state of Ohio hard, and only recently have indications emerged suggesting that the worst is over. This at least is according to statistics from the Ohio Housing Finance Agency, which suggest that a significant improvement from previous years has been underway.
